The club, who topped Deloitte's chart as the highest-earning Premier League side, reported a profit of £8m after tax with a sharp rise in media, matchday and commercial revenues, while staffing and administrative costs also went up significantly.
Liverpool's media revenue increased by £60m to £264m. They also saw a rise of £14m in matchday revenue, and a £15m increase in commercial revenue.
But administrative costs went up by £57m, and staffing costs also rose by £42m.
"Several other categories of costs have also seen double-digit growth in recent years, impacting the marginal return from core operations such as matchday," Liverpool said in a statement.